'Firms need to invest in education and training'

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EDUCATION and training in Guernsey's insurance sector is going to become increasingly critical for the industry to achieve continued growth, according to the retiring chairman of the local industry association.

Peter Child has stood down from office at the Guernsey International Insurance Association and handed over to Derek Maddison. He repeated a warning about training in his final address.

'There is no doubt that government moves to loosen housing and immigration policy to enable the employment of some outside talent is welcome,' Mr Child said.

'However, there can be no long-term replacement for educating our own young people.

'Our member firms need to be far-sighted and invest in education and training, capturing talented school leavers and graduates.

'If we commit and fully invest in people and professional skills we can create a virtuous circle that will support Guernsey becoming a global hub for all types of insurance and reinsurance.'

The association's education committee is investigating the viability of a university-delivered captive insurance qualification for the local industry.

For more from Peter Child and about Guernsey's insurance sector, see today's business review supplement Q1

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